Molson Coors Brewing Company

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Molson Coors Brewing Company
Type Public
Traded as NYSETAP TAP.A
TSXTPX.ATPX.B
S&P 500 Component
Industry Beverages
Founded Molson (1786), Coors (1873), merged (2005)
Headquarters Denver, Colorado, United States
Montreal, Quebec, Canada
Key people Andrew Molson, (Chairman)
Peter Swinburn, (President and Chief Executive Officer)
Products Beers, lagers, malt beverages, energy drinks
Revenue Increase US$6.7 Billion (FY 2011)[1]
Operating income Increase US$754 Million (FY 2009)[1]
Net income Increase US$720 Million (FY 2009)[1]
Total assets Increase US$12.0 Billion (FY 2009)[2]
Total equity Increase US$7.08 Billion (FY 2009)[2]
Employees 5,313[3]
Subsidiaries Molson
Molson Coors Brewing Co. (UK), Ltd.
Miller Coors (JV)
The Beer Store (49%)
Website www.molsoncoors.com

The Molson Coors Brewing Company is a North American brewing company, formed in 2005 by the merger of Molson of Canada, and Coors of the United States. It is the world's seventh largest brewer by volume.[4]

History[edit]

The company's binational nature has caused several sources in both the U.S. and Canada to claim the company is now controlled by interests in the other country.[5][unreliable source?][6] While the company is incorporated in the United States,[7] the company is traded on stock exchanges in both countries,[8] and control is equally shared between the Molson and Coors families.[9] The company is headquartered in Denver, Colorado, and in Montreal, Québec[10][11]

On October 9, 2007, SABMiller and Molson Coors Brewing Company announced a joint venture to be known as MillerCoors for their U.S. operations that will market all of their products.[12]

On February 2, 2011, the company purchased Sharp's Brewery of Cornwall in England for around £20 million.

On May 26, 2011, seventh-generation family member Andrew Molson succeeded Pete Coors as acting Chairman of the company.[13]

In early 2012 the company expanded into the Central and Eastern Europe markets by acquiring the region's market-leading brewery StarBev from CVC Capital Partners.[14]

In September 2014, it was revealed in the media that the firm was in talks to acquire Heineken’s operations in the Czech Republic.[15]

Corporate governance[edit]

The 2005 members of the board of directors of the company are: Francesco Bellini, John Cleghorn, Peter Coors, Melissa Coors, Charles Herington, Franklin Hobbs, Leo Kiely, Gary S. Matthews, Andrew Molson, Eric Molson, David O'Brien, Pamela Patsley, and Sanford Riley.

Iain Napier has been a director since July 2008.

Environmental record[edit]

The Molson Coors Brewing Company conducted a comprehensive, and voluntary investigation of its pollution and environmental emissions. Coors was not violating the Clean Air Act but was encouraged by the Environmental Audit Privilege and Voluntary Disclosure Act which immunizes and credits organizations for conducting environmental self-audits, which can grant immunity from environmental regulation fines.[16]

The United States government had thought that Coors was a minor violator of emissions such as volatile organic compounds (VOCs), but the investigating showed otherwise, revealing that Coors was 17 times over the estimated value of emissions. Molson Coors then provided the audit results to the Colorado Department of Health which culminated in a $1.05 million fine for the 189 violations of state pollution laws.[17]

Although Molson Coors said they did not know about volatile organic compounds they were emitting, they do claim to be environmentally aware. Coors invented a new printing technology technique which uses ultra-violet light to cure the print, a technique which the company claims is more environmentally sound than the traditional gas firing technique.[18]

Brands[edit]

Notes[edit]

  1. ^ a b c Delean, Paul. "Molson buys Czech brewer with operations throughout Eastern Europe" on VancouverDesi (April 3, 2012)
  2. ^ a b Molson Coors Brewing Company (TAP) annual SEC balance sheet filing via Wikinvest
  3. ^ "Corporate Values - Business Ethics". Molson Coors. Retrieved 12 January 2013. 
  4. ^ Turner, Robin. "Welsh brewer Peter Swinburn leads Molson Coors' 'risky' $US3.5bn acquisition" WalesOnline (June 7, 2012)
  5. ^ Yahoo! Answers discussion(American claims that the company is Canadian-owned)
  6. ^ Alien Beers Attack! (produced by Canada's Quidi Vidi Brewing Company, implies that the company is American-owned)[dead link]
  7. ^ MolsonCoors 2008 SEC 1O-K filing
  8. ^ The company that trades on the Toronto Stock Exchange, Molson Coors Canada Inc., entitles its shareholders economic and voting interests of the US-incorporated Molson Coors Brewing Company equivalent to MCBC shareholders on the New York Stock Exchange. MolsonCoors 2008 SEC 1O-K filing
  9. ^ Molson Coors ownership structure
  10. ^ The New York Times (Molson Coors Brewing Company, Company Information)
  11. ^ CNN Money (Molson Coors Brewing Co)
  12. ^ "Business, financial, personal finance news". CNN. 
  13. ^ Pankratz, Howard (26 May 2011). "Andrew Molson succeeds Peter H. Coors as Molson Coors chairman". Denver Post. 
  14. ^ "StarBev Sale Brings Cheer To CVC" on InvestIQ
  15. ^ Heineken in talks to sell Czech operations to Molson Coors. Reuters, 9 September 2014
  16. ^ Carlisle, John K. "Norton's record bodes well for innovative new approach to environmental protection at Interior" on Enter Stage Right (April 30, 2008)
  17. ^ Reason.org Environmental Enforcement: In Search of Both Effectiveness and Fairness by Alexander Volokh and Roger Marzulla August 1996 retrieved 30 April 2008
  18. ^ Hunter, Carl. "Technology infiltrates the beverage industry" The Winonan (April 9, 2008) retrieved 30 April 2008

External links[edit]